Oil and Gas EPC Market is expected to Grow with a CAGR of 5.7% through 2030F

Global Oil and Gas EPC Market is rising due to growing energy demand, exploration of new reserves, and investments in oil and gas infrastructure projects worldwide in the forecast period 2026-2030F.

According to TechSci Research report, “Oil and Gas EPC Market - Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030F”, Global Oil and Gas EPC Market was valued at USD 48 Billion in 2024 and is expected to reach USD 67.54 Billion in 2030 and project robust growth in the forecast period with a CAGR of 5.7% through 2030. Geopolitical factors and energy security play pivotal roles in propelling the Global Oil and Gas EPC (Engineering, Procurement, and Construction) Market to new heights. Geopolitical stability, or the lack thereof, significantly influences the global energy landscape. Regions rich in oil and gas resources are often situated in politically sensitive areas. Hence, geopolitical tensions, conflicts, and regulatory changes can swiftly impact oil and gas supplies. In this context, the strategic significance of energy security cannot be overstated. Energy security involves ensuring a stable, affordable, and uninterrupted supply of energy, especially in the face of geopolitical uncertainties. This imperative drives nations and corporations to invest substantially in diverse sources of energy, including oil and gas, and to bolster their infrastructure for exploration, extraction, transportation, and processing. EPC companies, at the forefront of this energy security paradigm, offer turnkey solutions to enhance the production and transportation capacities of oil and gas. They engineer and construct pipelines, refineries, and other critical facilities that are essential for energy security measures, enabling countries to fortify their domestic energy resources and reduce reliance on potentially unstable regions. EPC firms adeptly navigate the complex geopolitical landscape, forging collaborations and partnerships that ensure the uninterrupted flow of resources. The integration of advanced technologies, such as digital twin simulations and real-time monitoring systems, allows these companies to optimize existing infrastructures, enhance operational efficiencies, and respond swiftly to geopolitical developments, thereby ensuring the reliability and security of the energy supply chain. In essence, the symbiotic relationship between geopolitical factors and energy security serves as a driving force behind the Global Oil and Gas EPC Market, compelling stakeholders to innovate, collaborate, and invest in resilient infrastructures that safeguard the world’s energy future.

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The Asia Pacific region has emerged as the fastest-growing segment in the global oil and gas Engineering, Procurement, and Construction (EPC) market due to several key factors driving its robust expansion. The region is witnessing a surge in energy demand fueled by rapid industrialization, urbanization, and economic growth across emerging economies such as China, India, and Southeast Asian countries. This growing energy demand is driving significant investments in oil and gas infrastructure development, including refineries, pipelines, LNG terminals, and petrochemical complexes, to meet the region's burgeoning energy needs. Moreover, the Asia Pacific region is home to abundant oil and gas reserves, particularly in countries such as Australia, Indonesia, Malaysia, and Vietnam, which further drive investments in upstream exploration and production activities, as well as downstream refining and processing facilities. Supportive government policies, regulatory reforms, and strategic initiatives aimed at attracting foreign investment, promoting energy security, and fostering regional cooperation in the oil and gas sector contribute to the growth of the EPC market in the Asia Pacific region. Furthermore, the region's strategic location along major trade routes and proximity to key energy markets such as China, Japan, and South Korea make it an attractive destination for international oil and gas companies seeking to expand their presence and capitalize on growing energy demand in the Asia Pacific region. Overall, the convergence of these factors positions the Asia Pacific region as a key growth driver in the global oil and gas EPC market, offering significant opportunities for EPC contractors, engineering firms, and equipment suppliers to participate in large-scale projects and infrastructure developments across the region.

Based on Location, The Offshore segment stood as the dominant force in the Global Oil and Gas EPC Market, a trend that is anticipated to continue its stronghold throughout the forecast period. Offshore projects, involving exploration and extraction activities conducted in marine environments, have gained prominence due to the discovery of vast offshore reserves and technological advancements in deepwater drilling. The Offshore segment offers substantial growth opportunities, driven by the increasing global demand for oil and gas, especially from emerging economies. Offshore locations often yield significant reserves, making them lucrative for energy companies. Moreover, advancements in offshore drilling technologies, such as subsea processing and floating production systems, have enhanced the industry's capabilities to extract resources from challenging deep-sea environments, further bolstering the dominance of the Offshore segment. Additionally, offshore projects benefit from economies of scale and operational efficiency, making them a preferred choice for many major players in the oil and gas sector. As the industry continues to focus on offshore exploration and production activities, the Offshore segment is poised to maintain its dominance, supported by ongoing investments in offshore infrastructure, technological innovations, and the global demand for energy resources.

Major companies operating in Global Oil and Gas EPC Market are:

• Bechtel Corporation
• TechnipFMC plc
• McDermott International, Ltd
• Saipem S.p.A.
• Fluor Corporation
• Petrofac Limited
• Larsen & Toubro Limited 
• Halliburton Energy Services, Inc.

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“The global oil and gas EPC (Engineering, Procurement, and Construction) market presents significant opportunities driven by increasing energy demand and a shift toward cleaner technologies. Key growth drivers include the expansion of offshore exploration, advancements in LNG infrastructure, and investments in refining and petrochemical facilities. The adoption of digitalization, such as AI and IoT, is optimizing project execution and reducing operational costs, creating a competitive edge for innovative players. Additionally, the transition to renewable energy and low-carbon solutions opens avenues for EPC firms to diversify into green hydrogen, carbon capture, and sustainable energy projects. Emerging markets in Asia-Pacific, Africa, and the Middle East are seeing a surge in infrastructure development, presenting substantial growth potential. Strategic partnerships, technological innovation, and ESG-focused initiatives will be critical for companies seeking to capitalize on these opportunities,” said Mr. Karan Chechi, Research Director of TechSci Research, a research-based global management consulting firm.

“Oil and Gas EPC Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Service Type (Engineering, Procurement), By Location (Onshore, Offshore), By End User (Upstream, Midstream), By Region, By Competition 2020-2030F, ”, has evaluated the future growth potential of Global Oil and Gas EPC Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Oil and Gas EPC Market.

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